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Suggested Answer
lally asked a question on 3 Aug 2013 6:41 AM

Hi All ,

What is the use of the Prenotes in Bank module?

In which case we will the prenotes ?

Does prenotes functionality posts any entries to General ledger  ?

Thanks and Regards

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lally responded on 5 Aug 2013 7:52 AM

Hi ,

Any pioneer had implemented this functionality ?

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lally responded on 7 Aug 2013 12:36 AM

Hi ,

Any help from pioneer regarding this functionality ?

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Suggested Answer
Zahir Hussan responded on 14 Jan 2015 3:57 AM

Hi Lally,

A prenote (preauthorization) is a zero dollar transaction created and sent through the ACH network to test the validity of a payor's/payee's bank account information that was provided at the time of enrollment or if subsequently changed.
The prenote transaction checks the validity of the bank transit-routing number and the payor's/payee's bank account number. If your money is not there yet maybe you should contact your payroll officer.

Regards,

Zahir

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Girish Patnekar responded on 16 Mar 2015 1:30 AM

Hi Zahir;

If you say it's a zero-dollar transaction, what money are you expecting as mentioned in your last statement?

To my understanding, this is just a precheck/ validation; by the system to verify that the bank details provided are entered correctly and their confirmation from the banking system.

Regards

GIRISH

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Zahir Hussan responded on 7 May 2015 7:57 AM

Banks basically use prenotes to verify the accuracy of account data, such as routing numbers and account numbers.

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Suggested Answer
Zahir Hussan responded on 14 Jan 2015 3:57 AM

Hi Lally,

A prenote (preauthorization) is a zero dollar transaction created and sent through the ACH network to test the validity of a payor's/payee's bank account information that was provided at the time of enrollment or if subsequently changed.
The prenote transaction checks the validity of the bank transit-routing number and the payor's/payee's bank account number. If your money is not there yet maybe you should contact your payroll officer.

Regards,

Zahir

Reply